Name: Qualcomm Inc. (NASDAQ:QCOM) | Statement of Comprehensive Income
Creator: Stock Analysis on Net

Statement of Comprehensive Income

Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.

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Qualcomm Inc., consolidated statement of comprehensive income

US$ in millions

12 months ended:	Sep 27, 2026	Sep 28, 2025	Sep 29, 2024	Sep 24, 2023	Sep 25, 2022	Sep 26, 2021
Net income	13,628)	5,541)	10,142)	7,232)	12,936)	9,043)
Foreign currency translation gains (losses)	(96)	60)	121)	140)	(433)	40)
Net unrealized gains (losses) on certain available-for-sale debt securities	(27)	(29)	93)	54)	(113)	(5)
Net unrealized gains (losses) on derivative instruments	(64)	(36)	28)	99)	361)	(53)
Other gains (losses)	8)	9)	(12)	10)	35)	(2)
Other reclassifications included in net income	(1)	(31)	(1)	77)	—)	(59)
Other comprehensive income (loss), net of income taxes	(180)	(27)	229)	380)	(150)	(79)
Comprehensive income	13,448)	5,514)	10,371)	7,612)	12,786)	8,964)

Based on: 10-K (reporting date: 2026-09-27), 10-K (reporting date: 2025-09-28), 10-K (reporting date: 2024-09-29), 10-K (reporting date: 2023-09-24), 10-K (reporting date: 2022-09-25), 10-K (reporting date: 2021-09-26).

The financial performance from September 2021 through September 2026 is characterized by significant volatility in net income and comprehensive income. While the period concludes with a peak in profitability, there are notable cyclical fluctuations in earnings and other comprehensive income components.

Net Income and Comprehensive Income Trends: Net income exhibits a non-linear trajectory, starting at 9,043 million US$ in 2021 and reaching a high of 13,628 million US$ by 2026. A significant peak occurred in 2022 (12,936 million US$), followed by a contraction in 2023 and a subsequent recovery in 2024. The most pronounced decline occurred in 2025, where net income dropped to its lowest point of 5,541 million US$, before rebounding sharply in 2026. Comprehensive income closely mirrors these movements, indicating that net income is the primary driver of overall comprehensive performance.
Other Comprehensive Income (OCI) Volatility: Other comprehensive income, net of taxes, shows inconsistent patterns, fluctuating between a high of 380 million US$ in 2023 and a low of -180 million US$ in 2026. These variations are largely attributed to volatile non-operational items, particularly foreign currency translation and derivative valuations.
Analysis of OCI Components: Foreign currency translation gains and losses represent a significant source of instability within OCI, with a notable loss of 433 million US$ in 2022 and a loss of 96 million US$ in 2026. Net unrealized gains on derivative instruments peaked in 2022 at 361 million US$ but shifted toward losses by 2026 (-64 million US$). In contrast, unrealized gains or losses on available-for-sale debt securities remained relatively marginal throughout the period, peaking at 93 million US$ in 2024.
Relationship Between Net Income and Comprehensive Income: The variance between net income and comprehensive income remains proportionally small relative to total earnings. For instance, in 2026, the difference was 180 million US$, representing a small fraction of the 13,628 million US$ net income. This suggests that while OCI components are volatile, they do not materially offset or enhance the primary profitability trend of the entity.

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